Abstract:
Globalization is a complicated process, which is not a new phenomenon. It has three main dimensions:
political, social and economic. Considering a complex content of globalization, an important problem of
researchers was related to quantitatively express the effect of globalization on economic growth. After the
construction of different indexes measuring globalization in different countries, many authors estimated the
impact of globalization on economic growth. This article empirically analyzes the effects of globalization on the
economic growth of post-Soviet countries. The index developed by the Swiss Economic Institute (KOFGI) is used
to assess the level of globalization. Based on a panel data analysis covering 14 post-Soviet countries in the
period from 1996 to 2019, it is shown that the impact of globalization on economic growth is positive and
statistically significant. In addition, the paper discusses the influence of the economic, political and social
indices, which are included in the globalization index, on the Georgian economy. According to the time series
analysis, the economic globalization index has a positive and statistically significant effect on the economic
growth in Georgia, while the influence of the political and social globalization indices is statistically
insignificant.
Description:
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